HB 5285

General Assembly  Raised Bill No. 5285
  February Session, 2026  LCO No. 1265
  Referred to Committee on PLANNING AND DEVELOPMENT
  Introduced by:
  (PD)
      AN ACT CONCERNING THE ASSESSMENT OF CERTAIN MOTOR
      VEHICLES.
      Be it enacted by the Senate and House of Representatives in General
      Assembly convened:
     1  Section 1. Subdivision (7) of subsection (b) of section 12-63 of the 2026
     2      supplement to the general statutes is repealed and the following is
     3      substituted in lieu thereof (Effective October 1, 2026, and applicable to
     4      assessment years commencing on or after October 1, 2026):
      5        (7) (A) Except as provided in subparagraph (B) of this subdivision,
      6     for assessment years commencing on or after October 1, 2024, the
      7     following schedule of depreciation shall be applicable with respect to
      8     motor vehicles based on the manufacturer's suggested retail price of
      9     such motor vehicles, provided no motor vehicle manufactured nineteen
     10     or fewer years prior to the assessment year for which it is assessed shall
     11     be assessed at an amount less than five hundred dollars:
T1  Percentage of
T2  Manufacturer's Suggested
T3  Age of Vehicle  Retail Price
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T4
T5  Up to year one  Eighty-five per cent
T6  Year two  Eighty per cent
T7  Year three  Seventy-five per cent
T8  Year four  Seventy per cent
T9  Year five  Sixty-five per cent
T10  Year six  Sixty per cent
T11  Year seven  Fifty-five per cent
T12  Year eight  Fifty per cent
T13  Year nine  Forty-five per cent
T14  Year ten  Forty per cent
T15  Year eleven  Thirty-five per cent
T16  Year twelve  Thirty per cent
T17  Year thirteen  Twenty-five per cent
T18  Year fourteen  Twenty per cent
T19  Years fifteen to nineteen       Fifteen per cent
T20  Years twenty and beyond  [Not less than
T21  five hundred dollars] Ten per
  cent or five hundred dollars,
  whichever is less
     12      (B) For assessment years commencing on or after October 1, 2024, any
     13   municipality may, by vote of its legislative body, or in a municipality
     14   where the legislative body is a town meeting, by vote of its board of
     15   selectmen, elect to apply the following modified schedule of
     16   depreciation with respect to motor vehicles based on the manufacturer's
     17   suggested retail price of such motor vehicles, provided no motor vehicle
     18   manufactured nineteen or fewer years prior to the assessment year for
     19   which it is assessed shall be assessed at an amount less than five
     20   hundred dollars:
T22  Percentage of
T23  Manufacturer's Suggested
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  Raised Bill No.   5285
T24  Age of Vehicle  Retail Price
T25
T26  Up to year one  Ninety per cent
T27  Year two  Eighty-five per cent
T28  Year three  Eighty per cent
T29  Year four  Seventy-five per cent
T30  Year five  Seventy per cent
T31  Year six  Sixty-five per cent
T32  Year seven  Sixty per cent
T33  Year eight  Fifty-five per cent
T34  Year nine  Fifty per cent
T35  Year ten  Forty-five per cent
T36  Year eleven  Forty per cent
T37  Year twelve  Thirty-five per cent
T38  Year thirteen  Thirty per cent
T39  Year fourteen  Twenty-five per cent
T40  Years fifteen to nineteen        Twenty per cent
T41  Years twenty and beyond  [Not less than
T42  five hundred dollars] Fifteen
  per cent or five hundred
  dollars, whichever is less
  21      Any municipality that elects to apply the modified schedule of
  22   depreciation described in this subparagraph shall, not later than
  23   fourteen days after such election, notify the Secretary of the Office of
  24   Policy and Management, in a form and manner prescribed by the
  25   secretary, of such election and the first assessment year for which such
  26   schedule shall be effective.
        This act shall take effect as follows and shall amend the following
        sections:
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  Raised Bill No.        5285
 Section 1  October 1, 2026, and  12-63(b)(7)
  applicable to assessment
  years commencing on or
  after October 1, 2026
Statement of Purpose:
To specify that older motor vehicles shall be assessed at a rate of ten per
cent of the manufacturer's suggested retail price or five hundred dollars,
whichever is less, except that in a municipality that has elected to adopt
a modified depreciation schedule, such motor vehicles shall be assessed
at a rate of fifteen per cent of the manufacturer's suggested retail price
or five hundred dollars, whichever is less.
[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except
that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not
underlined.]
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